Henderson Global Investors has poached another high-profile fund manager with the appointment last week of Norwich Union's star UK equity manager Richard Prew.
Prew was responsible for the NUs £830m flagship fund for just over a year.
The fund is AA-rated by Standard & Poor's and has consistently achieved top-quartile performance in the UK all companies sector over one, three and five years.
The fund will now be taken over by NU's UK growth manager David Lis until a replacement is found.
Prew will become Henderson's director of retail UK equ ity growth.
He will become the lead manager on Henderson's range of retail equity growth funds, which include the Henderson UK capital growth Oeic and the NPI UK equity fund, both of which are currently bottom quartile in their sector.
Prew is expected to work alongside director of UK retail funds Ree Muwanga, who is currently on leave of absence. There is still doubt over whether she will be returning to her position.
The appointment is Henderson's second high-profile appointment in two weeks, having taken on two star Scottish Equitable technol ogy managers at the end of last month.
Bates Investment senior analyst James Dalby says: “We are not pulling money out of the NU fund but is on hold for new money. We think David Lis will be a capable caretaker for the fund.”